Carolina Panthers general manager Dan Morgan has made far more good decisions than bad since taking charge of the football operation more than three years ago. However, the worst move is easy to spot.
And after a desperate development, the Panthers will be paying the price for much longer than expected.
The Panthers needed to comply with the NFL's salary cap rules before Week 1 against the Chicago Bears. Money is incredibly tight, so they had to make sacrifices. Morgan and Brandt Tilis decided to go under the cap by restructuring defensive lineman Tershawn Wharton's contract.
Carolina Panthers make a bad contract worse with Tershawn Wharton restructure
According to Michael Ginnitti of Spotrac, the Panthers converted $12.2 million of Wharton's base salary into a signing bonus. They also added three voided years, clearing $9.7 million.
Over the Cap confirmed that the voided money on Wharton's deal is now $7.34 million. He's got two years and $28.85 million remaining on his contract, and the Panthers have received almost no return on this substantial investment.
Morgan didn't entertain restructuring deals early in his tenure. Now, all the high earners seem to be getting it, highlighting the precarious financial situation Carolina once again faces as head coach Dave Canales' squad looks to take the next step into legitimate contention.
Wharton's dealt with major injury issues. He was restricted to nine games last season and didn't have the same explosiveness. It was a disappointing first year, but hopes were high that a full offseason would help him contribute more.
Unfortunately, things took a similar turn.
Carolina Panthers are now seemingly stuck with Tershawn Wharton through 2027
The Panthers were dealt a hammer blow when Wharton suffered a neck injury that required surgery. He's currently on the physically unable to perform list with no timeline for his return. But given how tricky these issues can be, Carolina won't rush the player back before he is fully ready.
That might be this season, but there's no way to be sure.
Restructuring Wharton's contract signals that the Panthers see a future for the Missouri S&T product in 2027. That's not set in stone, but those in power clearly want to see if they can somehow drag his concerning trajectory onto a positive track once again.
They could release Wharton with a post-June 1 designation next year, but that would just split the financial cost. And with just over $7 million in cap space right now with 38 players under contract in 2027, every financial decision matters from here on.
Morgan and Tilis have pushed the money right to the limit. They believe the Panthers are closer than ever to being a legitimate force, but they must also keep the bigger picture in mind.
That's what made restructuring Wharton's deal seem strange, at least from the outside looking in. But the Panthers had no other option.
And if things don't go well this season, the Panthers' cap situation will quickly become a big talking point.
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